TV18 reports net profit of Rs 193.20 million

Television Eighteen has reported a Q3 net profit of Rs 193.20 million, while consolidated revenues have surged 67 per cent (YoY) at Rs 647.46 million.

Following the meeting of the Sub-Committee of the Board of Directors, Raghav Bahl, Television Eighteen’s Managing Director, said, “The third quarter has been an exceptional one for our news and Internet businesses. With the launch of Newswire18, TV18’s operations now span the entire spectrum in the real-time financial information space with comprehensive offerings across television, Internet and data terminals.”

He added, “The fundamentals of the broadcast business are set to change with addressability becoming a reality and we believe that it augurs well for all our TV brands. Our Internet vehicle, Web18, continues to invest in building market-leading franchises across several verticals in the information and transaction spaces, and is a key component of our overall strategy.”

This is also the second quarter that revenues and costs of Awaaz are being included in the results. TV18 Consolidated includes revenues from CNBC-TV18, CNBC-Awaaz, moneycontrol.com, commoditiescontrol.com and various other Internet portals acquired by the company’s subsidiaries during the year.